U.S. Income Tax Return for an S Corporation

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form 1120S U. S. Income Tax Return for an S Corporation	Form	Modified	Available
1120S.Sup.doc	Supporting Statement A	Uploaded 2006-09-13	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
45218	U.S. Income Tax Return for an S Corporation (Farms)		New
39581	U. S. Income Tax Return for an S Corporation	Form	Modified

ICR Details

OMB Control No: 1545-0130	ICR Reference No: 200608-1545-009
Status: Historical Active	Previous ICR Reference No: 200412-1545-034
Agency/Subagency: TREAS/IRS	Agency Tracking No: LM-1545-0130-009
Title: U.S. Income Tax Return for an S Corporation
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 11/22/2006
Retrieve Notice of Action (NOA)	Date Received in OIRA: 09/21/2006
Terms of Clearance: In its next submission of this information collection, the agency is instructed to confirm that the Line of Business and Subfunction under the Federal Enterprise Architecture Business Reference Module are indicated and correct.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	11/30/2009	36 Months From Approved	11/30/2006
Responses	15,042,000	0	15,042,000
Time Burden (Hours)	485,442,640	0	485,442,640
Cost Burden (Dollars)	0	0	0

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Abstract: Form 1120S, Schedule D (Form 1120S), and Schedule K-1 (Form 1120S) are used by an S corporation to figure its tax liability, and income and other tax-related information to pass through to its shareholders. Schedule K-1 is used to report to shareholders their share of the corporation's income, deductions, credits, etc. IRS uses the information to determine the correct tax for the S corporation and its shareholders.

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Authorizing Statute(s): US Code: 26 USC 1986
  

Citations for New Statutory Requirements: US Code: 26 USC 1986

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	71 FR 28418	05/16/2006
30-day Notice:	Federal Register Citation:	Citation Date:
	71 FR 55272	09/21/2006
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 2

table that charts list of burden

IC Title	Form No.	Form Name
U. S. Income Tax Return for an S Corporation	1120S	U.S. Income Tax Return for an S Corporation
U.S. Income Tax Return for an S Corporation (Farms)

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ICR Summary of Burden

table that charts list of burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	15,042,000	15,042,000	0	0	0	0
Annual Time Burden (Hours)	485,442,640	485,442,640	0	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: ROCIS requires separation of burden between affected public.

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Annual Cost to Federal Government: $950,000

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 09/21/2006

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